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Friday, September 26, 2014

Tokyo Stock Down


Tokyo Stocks open down 1.75%

Tokyo stocks opened 1.75 percent lower on Friday after sell-offs on Wall Street and the dollar's fall against the yen.
The key Nikkei 225 index at the Tokyo Stock Exchange, which closed at a seven-year high on Thursday, lost 286.19 points to 16,087.95 at the start.
US stocks sank Thursday led by Apple's 3.8 percent drop, amid a combination of worries over heady valuations and quarter-end profit taking.
The Dow Jones Industrial Average finished down 1.54 percent while the broad-based S&P 500 lost 1.62 percent.
The tech-rich Nasdaq Composite tumbled 1.94 percent as Apple's embarrassing problems with its new operating system and criticisms that its new iPhones are too easily bent sparked its fall.
The ollar was at 108.56 yen in early Friday trade, down from 108.73 yen in New York Thursday afternoon and above 109 yen in Tokyo earlier Thursday.
A strong yen is a negative for Japanese exporters as it erodes profits when repatriated.
The euro bought $1.2758 and 138.49 yen against $1.2750 and 138.62 yen in US trade.
Currency rates hardly moved after Japanese data showed the nation's consumer inflation rose a slower-than-expected 3.1 percent year-on-year in August.
Source: yahoo.com

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